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Moody’s Raises Outlook for PTT Chemical

11:00 PM MDT | August 25, 2010 | Deepti Ramesh

Moody’s Investors Service says it has changed the outlook for PTT Chemical’s (Bangkok) Baa3 issuer rating and senior unsecured rating from negative to stable. “The outlook revision reflects Moody’s expectation that PTT Chemical will maintain a steady financial profile over the next 12-18 months compared to 2009,” says Renee Lam, v.p. and senior analyst at Moody’s. “While new olefins production capacity in Asia and Mideast is likely to continue pressuring product spreads and therefore squeeze profitability, the company's...

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